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August 26 2017

ICO Alert Report: Datum

ICO Alert Report: Datum

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What is Datum?

Datum is a decentralized global scale database with blockchain characteristics that allows anyone to securely store structured data. Datum returns data ownership to individuals and lets them monetize their data on their own terms. This lays the foundation to a new marketplace powered by a new asset class. Datum turns structured data into a tradeable commodity and is building the $120 Bln Data Economy.
— Roger Haenni, Co-Founder and CEO of Datum

Pre-sale Information
The pre-sale began on August 11, 2017 at 14:00 UTC and will end on September 11, 2017 at 14:00 UTC. The current bonus and ETH/DATG* for the pre-sale round can be found on the Datum website under Token Sale. 75,000,000 tokens are available during the pre-sale.

*The pre-sale token is DATG which can be exchanged at a 1:1 rate for Datum tokens (DAT) at the end of the crowdsale.

Crowdsale Information
The crowdsale will begin on October 17, 2017 at 14:00 UTC and will end on November 17, 2017 at 14:00 UTC.

For every one Ether contributed, 10,000 DAT will be received. DAT is an ERC-20 token and only Ether is accepted for contribution. There is a minimum goal of 5,000 Ether and a hard cap of 153,000 Ether.

Token Distribution Information
Tokens will be distributed one week after the crowdsale is complete, between October 19–26, 2017.

There is a total of 3,000,000,000 DAT being created, and 1,530,000,000 will be available during the crowdsale.

Allocation:
51% of all minted DAT tokens will be offered for purchase across the pre-sale and crowdsale.

29% of all minted DAT tokens will be held in a reserve by the Datum Foundation for community initiatives, user growth, business development, academic research, and future market expansion.

20% of all minted DAT Tokens will be allocated to DAT core developers, founders, and advisors over a two year vesting period as incentive to ensure long-term alignments of interest and commitments towards the future value of the tokens.

Use of Crowdsale Proceeds
The proceeds from the crowdsale will be used as follows:

60%: Development
15%: Marketing
15%: Operations
5%: Legal
5%: Security

Team
Roger Haenni, Co-Founder and CEO
Linkedin
Roger is a serial entrepreneur with 17 years of experience with big data systems. He is also the co-founder of StockX, SwissInvest, PCP.ch, and Kosi. Most recently, Roger founded Clever Baby, a business focused on wearable smart-devices for children.

Gebhard Scherrer, Co-Founder
Linkedin
Gebhard is an operations product and service specialist with 20 years of experience in operations and sales. He is the co-founder of Gelid Thermal Solutions and Arctic Cooling. He has his master’s degree in business administration, with a focus in finance and capital markets.

VC Tran, Co-Founder
Linkedin
VC is a branding and marketing expert with 10 years of experience. He joined Gelid Thermal Solutions at launch and helped turn them into one of the leading CPU cooler and fan brands. Most recently, he co-founded Kosi, Ltd. with Roger.

Theo Valich, Head of Growth
Linkedin
Theo is an entrepreneur and analyst with 21 years of experience in technology related fields. His experience ranges from GPU to supercomputer design and he was the co-founder of Space Image Network, Robotic Systems, and VR World.

Florian Honegger, Smart Contract Expert
Florian has 15 years experience as an enterprise document and data management architect.

Vitaly Krinitsin, Community Manager
Linkedin
Vitaly has experience as a community liaison and marketer. Most recently, he held the position of technical marketing manager at GELID Solutions.

Social Media
Slack: https://join.slack.com/t/datumnetwork/shared_invite/MjI0MjQxMDQyMzU2LTE1MDIyNzM0ODItZGUzMWE3NDBjMQ
Facebook: http://fb.me/datumnetwork
Twitter: https://twitter.com/datumnetwork

Q&A

ICO Alert: How is the Datum token used? Do users have to own Datum in order to start using the mobile app?

Roger Haenni, Co-Founder and CEO of Datum: All trade of data on the Datum Network is powered by the DAT token. Buyers of data purchase with DAT tokens and the individual users, the sellers of data, earn these DAT tokens. Users do not have to own any DAT tokens to start using the mobile app, a sort of “micro credit” will be given to start users off.

ICO Alert: Is Datum directly competing with the largest owners of data, or simply providing a better route for users to reap the benefits of their personal data being sold to others? What’s the range of money a user can earn using Datum?

Datum: Datum aims to be the largest repository of securely stored user data and the marketplace to facilitate sharing and trade of such data. The main intention is to give users a secure and decentralized data storage from which they control whom they want to share and sell this data to. We expect the typical range to be between $1 to $100 USD per month, depending on the breadth of data shared.

ICO Alert: How many Datum tokens will it take to run a storage node from the start and what will the reward structure look like?

Datum: We have not set the precise amount of DAT tokens required to run a storage node yet, the exact values are subject to simulations that will be run on the test network which will launch before the end of 2017. With the launch of the main network planned for June 2018, that allows sufficient time to monitor the economics of the marketplace on the test network and determine final amounts for the main network.

ICO Alert: How far along in development is the Datum project and application? When can contributors expect to use the platform to earn Datum?

Datum: A first chance to earn DAT tokens will be available with the launch of the test network before the end of 2017. DAT tokens on the test network will not carry any value, so we plan to reward test network users. An alpha version showing core functionality will be released before the start of the token sale.

ICO Alert: When users sell their data in exchange for Datum it is anonymized data. Can you explain how this process works? Do those who own and sell data anonymize their users’ data?

Datum: Datum offers different levels of anonymity depending on the data; by default all data is sold completely anonymously, which is ensured by data sanitation algorithms that. For example, the removal of a user’s location information from data, as well as with fine grained control over what aspects of the users identity, are linked to the data. Datum also specifically allows users to connect various level of “identity” to their data in order to attract a higher price. A use case would be the sharing of health data with researchers or pharmaceutical companies, which may require identification from a user in order to accept this data.

ICO Alert: How is Datum different than other storage platforms in the space?

Datum: Datum focuses on storing structured data. Data is normally stored in databases (e.g. an Excel file), and most other storage projects focus on storing files and other unstructured data. The value of unstructured data is very limited (who really wants to see your family photos?), whereas structured data can be read and interpreted by machines and algorithms, and that is where the most value lies. Technically, Datum is a globally scalable cluster of “storage nodes,” based on MongoDB, which is a mature and stable NOSQL database. Most other storage projects in comparison use a file system to store files (blobs) instead of structured data.

ICO Alert: Is there a number of users or amount of data required for the Datum network to be successful? Is Datum strictly targeting the cryptocurrency space or are there plans to market to those outside of the space?

Datum: Datum is targeting the mass market, and we expect the data supply to be interesting to data buyers when we reach around 100,000 installations of the Datum App. We plan to reach these 100,000 installations after the launch of the test network by offering limited token airdrops to early adopters, combined with referral programs for viral growth. The basic pitch to end users is simple: Install the Datum app and earn a few dollars in passive income a month for not doing anything (simply sharing your anonymized data)!

ICO Alert: As a non-Datum question we like to ask for fun or unique predictions for the ICO and cryptocurrency market. Where do you think we’ll be in 5 years?

Datum: Vitalik Buterin will have grown a beard!

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View the Datum Website here.

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References
(1) Datum Website, Datum, (2017)
https://datum.network/

(2) Datum Whitepaper, Datum, (2017) 
https://datum.network/assets/Datum-WhitePaper.pdf

Topics: Blockchain, ICO, Cryptocurrency, Data, Finance